Nothing new here for most folks familiar with the precious metals, but here goes anyway:
One thing is painfully obvious in the market that sets the spot price of precious metals -- it isn't a real market, it's a rigged paper game under the control of the banksters. There's of course a reason why big banks feverishly manipulate spot prices: gold and silver are the most simple and direct barometer of the health of all fiat currencies, especially the teetering world reserve currency, the U$D. An ounce of metal is an ounce of metal, unchanging in intrinsic value, especially with gold since it has few industrial uses to influence demand, and hence its price.
In a free and open market, if the spot were to rise, it's because of one factor alone -- the dollar is weakening, and this immediately telegraphs troubles in the economy and highlights the incompetence and perfidy of the financial system. When this happens (which is pretty much every day, since fiat continues to be printed to oblivion) the banksters respond by flooding the table with paper metal, in volumes totally unsupported by actual mining production. They're buying and selling these made-up contracts, creating a false market of millions of ounces of metal that does not and cannot exist, which can never be mined much less delivered. This is pure fraud. As with most things the banksters do, the practice is immoral, counterproductive, and in most instances, illegal.
The buyers for this bogus metal (mostly HFT bots spitting contracts at each other at the behest of the central bank programmers) know full well there's no taking delivery here, they're just playing the game -- churn the market, buy low, sell high, and reap the rewards, thereby perpetuating the cycle of fraud for the sake of greed, and grinding down any possibility for true price discovery for very real and valuable commodities.
To perpetuate the bogus economic system they have designed specifically to rob the people of their wealth, it is imperative that the banksters control precious metals, manipulating prices daily for their own benefit. They know the day is coming when the ponzi scheme must end, and they intend to hold as much of the world's real wealth as possible when it happens (real estate, all commodities including the metals, food, water, all means of production, etc etc).
They intend to be the masters of the universe, and the people are to be driven into poverty, depression, suicide, war and various epidemics to kill us off, all so they, the oligarchs, can own the world and have as few of us pesky commoners still alive as possible (the Malthusian "useless eaters"). We just get in their way and consume resources the oligarchs want for themselves. It is the epitome of evil, and is why Chris Duane talks about the metaphorical silver shield and silver bullet being the best line of defense, and why Max Keiser launched his memorable meme a few years ago: "Buy silver - crash JPMorgan".
It is for these reasons that I consider those who buy and hold physical precious metals to be the true unheralded guardians of the world's wealth and the people's future. Gold and silver bugs sequester all the physical metal they can muster to keep it out of the hands of the banksters, preserving what wealth they can for the people's future.
God help us in that endeavor.
RELATED LINKS
• Support my endeavors on Patreon: https://www.patreon.com/stringdancer
• Get started buying physical metal yourself at OWNX: https://ownx.com/share/7LQ7V/